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...Sunday, Brown was forced to nationalize Northern Rock, after months of searching for a private sector buyer for the stricken lender. The move - the first nationalization of a British business since the 1970s - triggered the suspension of the bank's shares Monday. (Price? Less than $2.) And it's left the Brown government's own stock much more vulnerable...

Author: /time Magazine | Title: Will Northern Rock Sink Brown? | 2/18/2008 | See Source »

...here, again, the subject matter has a deeper bottom. There’s an allusion to the “seven hills,” presumably of Rome; a couple stark rebukes to capitalist greed (“We celebrate the golden cow / Praise the bloated bank account”); and an invocation of Babylon, whose most salient historical bullet-point is that its walls came tumbling down. These references all paint a picture of an America that’s ready to crumble.More of the same on “Gasoline,” where Crow, narrating a future...

Author: By Christian B. Flow, CRIMSON STAFF WRITER | Title: Sheryl Crow | 2/15/2008 | See Source »

...host the league's All-Star Game festivities this weekend, many people are wondering if the Hornets can survive much longer in New Orleans. "Look, it was a difficult market before the hurricane, there's no secret about that," says Sal Galatioto, president of Galatioto Sports Partners, an investment bank. "After, it's that much more problematic...

Author: /time Magazine | Title: New Orleans' Basketball Woes | 2/15/2008 | See Source »

...Communications, the cable provider for about 225,000 residents in suburban St. Tammany Parish, left many affluent fans unable to watch their team. To add to the Hornets' hard luck, the cash-strapped team was set to receive a much-needed $47 million loan from Societe Generale, the French bank that employed a rogue trader who just cost the firm a cool $7 billion. The bank has shut down its U.S. sports lending practice, though Hornets president Hugh Weber insists Societe Generale assured him the deal will go through...

Author: /time Magazine | Title: New Orleans' Basketball Woes | 2/15/2008 | See Source »

...didn't say anything about our trades, did you? Otherwise you're dead meat.' JEROME KERVIEL, rogue Socit Gnrale trader, talking with a broker in an Oct. 11 online chat about risky trades that are believed to have cost the bank $7.2 billion...

Author: /time Magazine | Title: Verbatim | 2/14/2008 | See Source »

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